Setting up of SIFC starts yielding positive results: caretaker PM

Kakar says collective efforts by all stakeholders successfully brought economy back on track.

KARACHI: Caretaker Prime Minister Anwaarul Haq Kakar says the establishment of Special Investment Facilitation Council (SIFC) has started yielding positive results in the form of increasing foreign investments in different sectors in the country.

He stated this while meeting members of Pakistan Stock Exchange and heads of leading companies of Pakistan and speaking at the first auction of Government Ijarah Sukuk Bond issued by the Pakistan Stock Exchange on Friday.

He said collective efforts of all stakeholders had successfully brought the economy back on track after it saw instability for many years. 

“Investors have regained confidence after successful signing of a standby agreement with the International Monetary Fund and improvement in fiscal and external accounts.” Mr Kakar lauded current performance of Pakistan Stock Exchange and highlighted its role in the economy.

He said the bullish trends in the stock exchange became possible due to participation of foreign investors, a high yield and a stable exchange rate. He reiterated the government’s commitment to steer the economy toward stability. 

Addressing the ceremony, caretaker Finance Minister Shamshad Akhtar said the Iajarah Sukuk was an innovative product being launched for first time beyond the State bank which has total control over government securities.

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